Police Impose Travel Ban on 'Gift Card Loan Shark' and Launch Investigation

The police have imposed an overseas travel ban on an illegal private lender who allegedly forced a woman in her 30s into debt using a so-called "gift card pre-sale" scheme.

According to the police on May 19, the Gyeonggi Nambu Provincial Police Agency's Metropolitan Crime Investigation Unit launched an investigation after analyzing KakaoTalk conversations between the deceased woman, identified as A, and her acquaintances. The analysis revealed suspicions of illegal private lending disguised as gift card pre-sales.

Previously, on April 1, woman A in her 30s was found dead at a motel in Dongdaemun-gu. Investigations revealed that she had been using “gift card loan sharks.” It was also reported that she had been subjected to verbal abuse and threats during the debt collection process.

The “gift card loan shark” method refers to a new type of high-interest private loan where small amounts of cash are lent under the pretense of selling gift cards, and when repayment is due, the borrower is required to repay with gift cards of a much higher value.

The police have ruled out the possibility of homicide and are treating the case as an unexplained death. However, they are continuing to investigate the connection between the gift card loan shark activities and the woman’s death.

A police official stated, "If you are suffering from illegal debt collection or excessive debt pressure, do not struggle alone. If you report it immediately to the police or the Financial Support Center for Ordinary Citizens, you can receive integrated support for victim relief procedures."

This content was produced with the assistance of AI translation services.